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$6M bankrolls Enveric pipeline partnering, depression program [Green Market Report]

By May 15, 2024No Comments

On the heels of its announced partnership with MindBio (CNSX: MBIO) this week, Enveric Biosciences (NASDAQ: ENVB) said that it is trying to nail down potential licensing contracts for more of its pipeline candidates, as the biotech company also advances a lead “non-hallucinogenic” asset, it said in an earnings release Wednesday. In the first quarter ending March 31, the clinical-stage biotech company reported a net loss of $2.46 million for the first quarter of 2024. Enveric had $6.36 million in cash remaining at the end of March after raising $4.5 million in the quarter from warrant and equity issuances, the company said.

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